Dealing With Credit Ratings And County Court Claims

When you are presented with a county court claim, the situation you are placed in is potentially grave. A county court claim may lead to a judgment not in your favor, which might adversely affect your credit score. Dealing with these claims appropriately should be your highest priority.

Your credit report won’t be harmed by putting up a dispute on the county court claim. The only way your credit report will take a hit is by failing to pay in the event a judge declares the claim to be upheld. Feel free to debate the charge and present your case. Best case scenario is that you win the case and don’t have to pay anything at all- while otherwise you should start making immediate plans to pay the debts.

A county court judgment gone wrong will stay on your record for six years. It’s a heavy burden to deal with, and quite difficult to explain to lenders reviewing your history. Note that you will not have it on your record unless you miss payments that the judge sets for you. This payment is tailored to your budget and should be conceivable in terms of your ability to pay.

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In comparison to a bankruptcy, one may draw some solid conclusions that both are about the same in terms of negative reputation. A CCJ may not be removed, just like the bankruptcy filing, and will put borrowers on a path to hopeful recovery. Credit counseling services can reduce the effect that the filing will have in time, but it will take work.

A county court judgment won’t negate all possible chances at getting a mortgage loan. In fact, CCJ mortgages exist that are specialized for those who have a CCJ against their name, yet still have a responsible character that shows they are still otherwise responsible. If there is no other reason to suspect irresponsibility, lenders may charge a bit higher interest rate, but otherwise have no problem in issuing a mortgage loan.

Having bad credit and obtaining a CCJ mortgage is another story entirely. Bad credit CCJ loans are a niche mortgage that are harder to qualify for. The best thing to do at this point is to improve credit or consult lenders that specialize in bad credit mortgages. Even two years is enough time to raise your credit if you can pay off credit balances monthly and on time.

Closing Comments

Don’t linger on the county court judgment if you have been served with one. Don’t try to contest it any further or refuse to pay, since it will indeed have an impact on your ability to get a loan or even a job in some cases. Pay up and move on- it’s the most you can do.

Learn more on CCJ Mortgage and Bad CCJs Credit Mortgage.